Capital Budget and Ten Year Capital Plan (Including Capital Amendments)

Transcription

1 Capital Budget and Ten Year (Including Capital Amendments) Capital Budget Summary ($000's) Multi-Year Budget Total Approved Budget 1 170, , , , ,988 1,482,081 2,243,069 Total Revised Budget (submitted December 17, 2018) 1 170, , , , ,812 1,523,527 2,278,339 Total Capital Expense Increase/(Decrease) (6,176) (6,176) 41,446 35,270 Sources of Financing Capital Levy (CL) Debenture (D) (836) (836) 13,320 12,484 Reserve Fund (RF) ,857 1,857 6,879 8,736 Other (O) Non-tax Supported (NTS) (7,212) (7,212) 21,247 14,035 Total Revenue Increase/(Decrease) (6,176) (6,176) 41,446 35,270 Net Tax Levy Impact Notes: to 2018 capital budgets have decreased from 2018 approved totals as a result of housekeeping budget adjustments related to the Capital Budget Realignment - Bus Rapid Transit report at Corporate Services Committee, June 19, Includes the recommended budget amendments (8-12) supported by budget amendment cases and budget adjustments that do not require a budget amendment case since there is no impact to Page 21

2 Lifecycle Renewal Capital Budget Total Lifecycle Renewal Approved Budget 86,942 77,707 75,630 75, , , ,373 Lifecycle Renewal Revised Budget 1 86,942 77,707 75,630 77, , , ,623 Increase/(Decrease) ,907 1,907 7,343 9,250 Growth Capital Budget Growth Approved Budget 2 67,998 73,726 57, , , ,925 1,081,493 Growth Revised Budget ,998 73,726 57, , , ,028 1,107,513 Increase/(Decrease) (8,083) (8,083) 34,103 26,020 Service Improvement Capital Budget Capital Budget by Classification ($000's) Multi-Year Budget Forecast Service Improvement Approved Budget 15,804 60,995 32,657 10, , , ,203 Service Improvement Revised Budget 1 15,804 60,995 32,657 10, , , ,203 Increase/(Decrease) Total Capital Expense Increase/(Decrease) (6,176) (6,176) 41,446 35,270 Notes: 1. Includes the recommended budget amendments (8-12) supported by budget amendment cases and budget adjustments that do not require a budget amendment case since there is no impact to to 2018 capital budgets have decreased from 2018 approved totals as a result of housekeeping budget adjustments related to the Capital Budget Realignment - Bus Rapid Transit report at Corporate Services Committee, June 19, Page 22

3 Lifecycle Renewal Capital Budget ($000's) Multi-Year Budget Total Forecast Lifecycle Renewal Approved Budget 86,942 77,707 75,630 75, , , ,373 Lifecycle Renewal Revised Budget 86,942 77,707 75,630 77, , , ,623 Increase/(Decrease) ,907 1,907 7,343 9,250 Sources of Financing Capital Levy (CL) Debenture (D) ,368 2,368 Reserve Fund (RF) ,857 1,857 4,418 6,275 Other (O) Non-tax Supported (NTS) Total Revenue Increase/(Decrease) ,907 1,907 7,343 9,250 Net Tax Levy Impact Amendments Multi-Year Budget Amendments (Business Cases Submitted) Budget Amendment Case #8 London Convention Centre - Realign 10 year Rationale: Advance timing of roof replacement project to align with other capital project schedules and minimize negative impacts on ,857 1,857 (2,489) (632) operations. Source of Financing: London Convention Centre Reserve Fund RF RF RF Budget Amendment Case #9 Covent Garden Market Garage Painting Rationale: Additional funding required to extend the useful life of deteriorating concrete in the Convent Garden Market parking garage. Source of Financing: Non-Tax Supported (Covent Garden Market Reserve) Multi-Year Budget NTS NTS NTS Page 23

4 Lifecycle Renewal Capital Budget ($000's) (continued) Multi-Year Budget Total Budget Amendments (Inc/(Dec)) ,907 1,907 (2,437) (530) Budget Amendments - Business Cases Not Required (Inc/(Dec)) 9,780 9,780 Total Lifecycle Renewal Budget Amendments (Inc/(Dec)) ,907 1,907 7,343 9, Budget Amendments (Business Cases Not Required) Total Information Technology Services Changes Rationale: Across the information technology industry, billing is moving to monthly costs per user. This transition reduces capital expenditure requests, but increases operating expenditures. The (1,482) (1,060) City of London s upgrade to the client based Office 365 follows this industry pattern resulting in this previously approved capital funding not being required. Source of Financing: Capital Levy, Information Technology Reserve Fund RF CL, RF RF Victoria Bridge Replacement Rationale: At the June 19, 2018 Civic Works Committee meeting, Council approved the Environmental Study Report to replace Victoria Bridge on Ridout Street over the Thames River. The total , ,840 project costs are estimated at $14.1 million ($10.8 million lifecycle; $3.3 million growth). Source of Financing: Capital Levy, Debt, Infrastructure Gap Reserve Fund CL CL, D, RF Total Lifecycle Renewal Budget Amendments (Inc/(Dec)) , ,780 Page 24

5 Growth Capital Budget ($000's) Multi-Year Budget Total Forecast Growth Approved Budget 1 67,998 73,726 57, , , ,925 1,081,493 Growth Revised Budget 1 67,998 73,726 57, , , ,028 1,107,513 Increase/(Decrease) (8,083) (8,083) 34,103 26,020 Sources of Financing Capital Levy (CL) (133) (133) Debenture (D) (836) (836) 8,580 7,744 Reserve Fund (RF) Other (O) Non-tax Supported (NTS) (7,262) (7,262) 25,523 18,261 Total Revenue Increase/(Decrease) (8,083) (8,083) 34,103 26,020 Net Tax Levy Impact Notes: to 2018 capital budgets have decreased from 2018 approved totals as a result of housekeeping budget adjustments related to the Capital Budget Realignment - Bus Rapid Transit report at Corporate Services Committee, June 19, Page 25

6 Amendments Multi-Year Budget Amendments (Business Cases Submitted) Budget Amendment Case #10 Masonville Transit Village Secondary Plan Rationale: The 2014 Development Charges Background Study provides funding for studies and projects to support future growth and development of the City. Rapid Transit Village Secondary Plans were identified as an eligible category of studies. This amendment establishes a capital account for the first study under this program that will provide the foundation for future redevelopment of the Masonville Transit Village; the northern terminus of the City's rapid transit system. Source of Financing: Other, Non-Tax Supported O, NTS O, NTS Budget Amendment Case #11 Project Estimate Updates - Growth Transportation Capital Projects Rationale: Changes to project estimates for transportation growth (1,325) (1,325) 23,970 22,645 projects based on results of multiple environmental assessments completed in 2018 (Wharncliffe Rd. widening, Richmond/Fanshawe Source of Financing: Debt, Non-Tax Supported D, NTS D, NTS D, NTS Budget Amendment Case #12 Realignment of Growth Transportation Capital Projects Rationale: Changes to the timing of various transportation growth projects resulting in no additional funding requirement to the 10 year capital plan. Growth Capital Budget ($000's) (continued) Multi-Year Budget (6,833) (6,833) 6,833 - Source of Financing: Debt, Non-tax Supported D, NTS D, NTS Total Budget Amendments (Inc/(Dec)) (8,083) (8,083) 30,803 22, Budget Amendments - Business Cases Not Required (Inc/(Dec)) 3,300 3,300 Total Growth Budget Amendments (Inc/(Dec)) (8,083) (8,083) 34,103 26,020 Page 26

7 Growth Capital Budget ($000's) (continued) Budget Amendments (Business Cases Not Required) Total Victoria Bridge - Active Transportation Rationale: At the June 19, 2018 Civic Works Committee meeting, Council approved the Environmental Study Report to replace Victoria Bridge on Ridout Street over the Thames River. The total - - 3, ,300 project costs are estimated at $14.1 million ($10.8 million lifecycle; $3.3 million growth). Source of Financing: Debt, Non-Tax Supported D, NTS D, NTS Total Growth Budget Amendments (Inc/(Dec)) - - 3, ,300 Page 27

8 Service Improvement Capital Budget ($000's) Multi-Year Budget Capital Plan Service Improvement Approved Budget 15,804 60,995 32,657 10, , , ,203 Service Improvement Revised Budget 15,804 60,995 32,657 10, , , ,203 Increase/(Decrease) Sources of Financing Capital Levy (CL) (372) (372) Debenture (D) ,372 2,372 Reserve Fund (RF) ,328 2,328 Other (O) Non-tax Supported (NTS) (4,328) (4,328) Total Revenue Increase/(Decrease) Net Tax Levy Impact Notes: forecasted source of financing changes reflect housekeeping budget adjustments which have a net impact of zero on the capital plan. Page 28